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Mariano Rivera Re-Signs for 1 Year, $10 million

The Yankees are finishing off a contract with closer Mariano Rivera and expect the deal to be completed by Friday, according to a baseball official who was consulted on the contract.

The two sides have agreed on the parameters of a one-year deal, the official said, and spent Thursday trying to finish off final details of Rivera's salary and incentives.

As ESPNNewYork.com reported Wednesday, Rivera is expected to take a pay cut from the $15 million he earned in 2012, and is likely to be guaranteed a salary in the neighborhood of $11-12 million. The deal is expected to include incentives that would allow him to reach $15 million in earnings if he is healthy enough to pitch all season.

Yanks and Mariano Deal Imminent

The Yankees are finishing off a contract with closer Mariano Rivera and expect to complete a deal by tomorrow, Jayson Stark of ESPN.com reports. SFX represents Rivera, who missed most of the 2012 season with a torn ACL.

The sides have agreed on the parameters of a one-year deal, and have worked today to agree on Rivera's salary and incentives. The deal is expected to guarantee Rivera $11-12MM and include incentives that could bring the total value of the deal to $15MM, Stark reports.

Rivera, who turns 43 today, appeared in just nine games before tearing his ACL in May. He considered retirement after his two-year, $30MM contract expired before deciding to return. Rivera, the all-time leader in saves, has remained effective beyond his 40th birthday. He posted a 1.87 ERA with 7.8 K/9 and 1.5 BB/9 from 2010-12, his age 40, 41 and 42 seasons.